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Various Market Players have Integrated their Plants so as to Reduce the Impact of External Environment on Plant Economics.
The acetic acid market is quite fragmented due to the presence of a large number of players. The Asia-Pacific region is estimated to be the biggest market of acetic acid and is also the second fastest growing, after the ROW market. The market is expected to show a significant growth in the future. More than 5.8 million tons of upcoming capacities are in the planning phase. Various market players have integrated their plants so as to reduce the impact of external environment on plant economics.
The top five players accounted for about 54.17% of the global market in 2012. Celanese Corp. (U.S.) was the leading market participant with 20.09% and 2,520.0 KT of production capacity globally at the end of 2012. The company is among the key producers of specialty chemical products in the world with segments including acetyl intermediates, advanced engineered materials, consumer specialties, and industrial specialties.
As a part of its business strategy, the company is dedicated towards creating value for itself and its customers by utilizing the full breadth of its chemistry, technology, and global business expertise. It accelerates its efforts towards enhancing its capabilities to deliver innovative solutions for addressing the global needs. It recently developed its TCX technology, which is energy-efficient and helps to meet the world’s energy challenges. The company also focuses on expanding its business by entering into joint ventures with other giant players to enhance its customer base and augment its sales.
BP Plc (U.K.) was the second largest player with 16.42% of the market share and 2,060.0 KT of acetic acid production capacity worldwide in 2012. The company has an active presence in more than 80 countries with its operations in Europe, Americas, Asia-Pacific, Africa, and the Middle East.
As a part of its business strategy, BP Plc focuses on developing and deploying the next generation of advantaged technologies. It accelerates its efforts on the efficient growth of its operations and aims to create a distinguished platform for growth over the long term. Its proprietary processing technologies help to reduce the production costs and environmental impact of its plants, and also enable to maintain competitive advantage in PTA (Puriﬁed terephthalic acid) and acetic acid line of business. The company undertakes expansion activities and enters into joint ventures & agreements with giants in order to invest in new markets and to enhance margin capability of its business.
In terms of market activities, BP Plc was the most active player from 2010 to 2013 with a share of 13.73% of the total development activities traced. The company accelerated its efforts to enhance its brand image and to be on the same page with the market trends by undertaking expansion activities of its existing plants, setting up new plants, and also by entering into joint ventures with other giant players in the market.
With a share of about 5.88% of the overall market activities recorded between 2010 and 2013, Celanese Corporation was the second most active player in the acetic acid market. The company focuses on expansion activities and agreements & collaborations to obtain wide presence and to enhance its product portfolio. These two companies were the most dynamic players in adopting various growth strategies.
Acetic Acid Market & Its Derivatives (Vinyl Acetate Monomer (VAM), Purified Terephthalic Acid (PTA), Acetic Anhydride, & Ester Solvents - Ethyl Acetate & Butyl Acetate) Market By Applications & Geography - Trends & Forecasts to 2018
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